US Sports Betting Market Report 2020
“As long as sports are played there will be sports betting. This truth caused turmoil in the sports betting industry during the COVID-19-induced sports shutdown, as there was very little…

US Sports Betting Market Report 2020

£ 3,695 (Excl.Tax)

Report Summary

Everything you need to make the right decisions

Providing the most comprehensive and up-to-date information and analysis of the Sports Betting  US market including the behaviors, preferences and habits of the consumer.

Mintel has the answers you’re looking for

What are the key challenges facing the industry? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?

Covered in this report

Sports betting continues to become more prominent across sports leagues and the country. At the time of publication, 18 states now have legal, regulated sports betting industries with three more states having passed laws legalizing it. As legalized sports betting becomes more widespread across the US, sports entities and brands alike are looking for ways to get involved. Every major US sports league and many individual teams have created partnerships with a sports betting firm and many consumers are adding to their sports experience through betting.

Expert analysis from a specialist in the field

Written by Colin O’Brien, a leading analyst in the Leisure sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

As long as sports are played there will be sports betting. This truth caused turmoil in the sports betting industry during the COVID-19-induced sports shutdown, as there was very little left for consumers to bet on. However, the industry came through the other side thriving as sports bettors met the return of games with great enthusiasm. With more states legalizing betting and consumer sentiment improving, betting is becoming more integrated into mainstream sports content. It’s a safe bet that the sports betting industry will continue to experience sustained growth in the future.
Colin O’Brien
Sports Analyst

Table of Contents

  1. Overview

    • What you need to know
      • Key issues covered in this Report
        • Definition
          • COVID-19: market context
            • Economic and other assumptions
            • Executive Summary

                • Top takeaways
                  • Market overview
                    • Impact of COVID-19 on sports betting
                      • Figure 1: Record betting numbers in August 2020
                      • Figure 2: Short-, medium- and long-term impact of COVID-19 on sports betting, October 2020
                    • Opportunities and Challenges
                      • The pandemic stymied growth and cost revenue
                        • Bring sports betting front and center; help to educate consumers
                          • Figure 3: Sports betting integrated into score bugs
                        • Stand out and drive more betting with streaming options
                          • Figure 4: In-app game streams for online sportsbooks
                        • Reach the growing betting audience through dedicated content
                          • Fierce competition creates the need to drive awareness
                            • Increase state revenue through sports betting legalization
                            • The Market – Key Takeaways

                              • Post shutdown sports betting reaches record highs
                                • Legalized sports betting continues to sweep across the country
                                  • Sports betting partnerships grow in popularity
                                    • New betting offerings will continue to infiltrate the world of sports
                                    • The Sports Betting Market

                                      • Legalization has dramatically enhanced the growth of sports betting
                                        • Figure 5: Estimated total amount bet in Nevada during calendar year, 2007-19
                                        • Figure 6: 2019 sports betting handle
                                      • Macroeconomic factors
                                        • Figure 7: Unemployment rate, January 2007-September 2020
                                        • Figure 8: Consumer confidence, January 2007-August 2020
                                      • Impact of COVID-19 on sports betting
                                        • Figure 9: Record betting numbers in August 2020
                                        • Figure 10: Short-, medium- and long- term impact of COVID-19 on sports betting, October 2020
                                      • Lockdown
                                        • Re-emergence
                                          • Recovery
                                            • COVID-19: US context
                                              • Learnings from the last recession
                                              • Market Factors

                                                • Sports bettors wagering on (state) lines
                                                  • Sports betting also faces the court of public opinion
                                                    • Real time betting is the differentiator in a crowded marketplace
                                                      • Sports betting legalization is an easy win for states
                                                      • Market Opportunities

                                                        • Integrate betting into professional sports coverage
                                                          • Figure 11: Sports betting integrated into score bugs
                                                        • Pave the way for greater in-game betting with streaming offerings
                                                          • Figure 12: In-app game streams for online sportsbooks
                                                        • Evolve the fan experience with in-stadium betting
                                                          • Figure 13: Sportsbook at Capital One Arena rendering
                                                        • Explore partnership opportunities across the sports industry
                                                          • Team partnerships – provide connection to individual teams
                                                            • League partnerships – offer access to league-level data feed
                                                              • Network partnerships – offer greater integration and content opportunities
                                                              • Companies and Brands – Key Takeaways

                                                                • FanDuel and DraftKings further awareness advantage through heavy advertising spending
                                                                  • Strategic acquisition offers new method to attract customers
                                                                    • Greater content integration a must for future partnerships
                                                                    • Market Share

                                                                      • Daily fantasy and heavy ad spend boost awareness of sportsbooks
                                                                        • Figure 14: Betting platform awareness, July 2020
                                                                        • Figure 15: Sportsbooks Digital Marketing and paid Facebook spending, January – October 2020
                                                                    • Competitive Strategies

                                                                      • Penn National Gaming targets customers through Barstool Sports acquisition
                                                                        • Figure 16: Competing sportsbook strategies
                                                                      • ESPN and Caesars Entertainment demonstrate value of digital integration
                                                                        • Figure 17: Bad Beats SportsCenter potential for integration
                                                                    • The Consumer – Key Takeaways

                                                                      • Sports betting is growing and will soon become commonplace
                                                                        • Bettors say their primary motivation is to win money, but it really is the experience
                                                                          • Promotions and rewards attract and retain customers
                                                                            • Online betting is the future of the industry
                                                                            • Consumer Trends Impacting Sponsorships and Sports Marketing

                                                                                • Experiences
                                                                                  • Technology
                                                                                    • Value
                                                                                    • Exploring Sports Bettors

                                                                                      • Types of betting and frequency
                                                                                        • Figure 18: Types of betting participation, July 2020
                                                                                      • Betting frequency
                                                                                        • Figure 19: Betting frequency, July 2020
                                                                                        • Figure 20: FanDuel NFL regular season promotion
                                                                                      • Heavy sports betting skews male
                                                                                        • Figure 21: Types of betting participation, by gender, July 2020
                                                                                        • Figure 22: Betting frequency, July 2020
                                                                                      • Sports betting is becoming a young person’s game
                                                                                        • Figure 23: Types of betting participation, by generation, July 2020
                                                                                      • Bettors wager on the sports they are fans of
                                                                                        • Figure 24: The Ringer FanDuel contest
                                                                                        • Figure 25: Betting participation and interest in betting, by sport, July 2020
                                                                                    • Motivators and Barriers to Sports Betting

                                                                                      • Reasons for betting
                                                                                        • Figure 26: Betting celebrations
                                                                                        • Figure 27: Reasons for sports betting, July 2020
                                                                                      • Reasons against betting
                                                                                        • Figure 28: Reasons against sports betting, July 2020
                                                                                        • Figure 29: Odds boost DraftKings promotion
                                                                                        • Figure 30: Branded free to play betting contests
                                                                                      • Helping consumers understand the world of sports betting
                                                                                        • Figure 31: Factors contributing to sports betting decisions, July 2020
                                                                                    • Online Sports Betting

                                                                                      • The rise of online betting
                                                                                        • Promotions and rewards help attract and retain consumers for online sportsbooks
                                                                                          • Figure 32: Sign up promotion
                                                                                      • The Sports Betting Experience

                                                                                        • “The Experience” is the key to the sustained growth of sports betting
                                                                                          • Figure 33: Enhancing the sportsbook experience
                                                                                      • Appendix – Data Sources and Abbreviations

                                                                                        • Data sources
                                                                                          • Consumer survey data
                                                                                            • Abbreviations and terms
                                                                                              • Abbreviations
                                                                                                • Terms
                                                                                                • Appendix – Consumer Data

                                                                                                    • Figure 34: Betting platform awareness, by generation, July 2020
                                                                                                    • Figure 35: Betting behaviors, July 2020

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